The actual expenditures reached BD3.32billion with a decrease of BD590.5 million representing a 15% decrease from estimated expenditures and the actual deficit reached BD226 million with a decrease of 83% in comparison to the estimated deficit.
HRH the Prime Minister emphasized the importance of all ministries in taking responsibility of maintaining public revenues and preventing the any financial and administrative violations through tightening internal controls.
He also instructed the specialized committee assigned to rationalize expenditures, income and productivity in ministries and government authorities to submit options and adopt more programs and initiatives to stimulate the national economy through diversifying the sources of government income by targeting promising sectors, including commercial ventures and tourism.
The Cabinet adopted both the consolidated closing account for the Kingdom for the fiscal year ending 31 December 2012 and the budget performance report for the financial year 2012.
They decided to take the legal and constitutional procedures and forward them to the Legislative Authority in accordance with the provisions of the Constitution and the Law of General Budget.
The professional opinion prepared by the National Audit Office about the Consolidated Closing Account for the Kingdom for the fiscal year 2012 fairly shows all aspects of income and expenses by the Kingdom in accordance with accounting standards and principles.
The Cabinet approved a draft decree approving the rules of governing the logo of the GCC approved by the 33rd session of the Supreme Council of the GCC held last December 2012 in Bahrain. These include (1) the adoption of the logo; (2) its general description; (3) its goal; (4) its ownership statement; (5) consideration of ways to protect it; and (6) the conditions of its use. The Cabinet assigned the proper authorities to take the necessary measures in accordance with the Constitution and Law.
The Cabinet approved the ratification of the main system for the GCC Emergency Management Center and agreed to take the necessary measures in accordance with the Constitution and the Law.